Equities analysts expect that Internap Corp (NASDAQ:INAP) will report sales of $82.09 million for the current quarter, according to Zacks. Two analysts have provided estimates for Internap’s earnings. The highest sales estimate is $82.18 million and the lowest is $82.00 million. Internap reported sales of $69.64 million during the same quarter last year, which would suggest a positive year-over-year growth rate of 17.9%. The business is scheduled to report its next quarterly earnings results on Thursday, August 2nd.
According to Zacks, analysts expect that Internap will report full year sales of $322.81 million for the current fiscal year, with estimates ranging from $322.40 million to $323.22 million. For the next financial year, analysts anticipate that the business will report sales of $336.73 million per share, with estimates ranging from $335.66 million to $337.80 million. Zacks’ sales calculations are an average based on a survey of research firms that follow Internap.
Internap (NASDAQ:INAP) last posted its earnings results on Thursday, May 3rd. The information technology services provider reported ($0.70) EPS for the quarter, missing analysts’ consensus estimates of ($0.57) by ($0.13). Internap had a negative return on equity of 665.82% and a negative net margin of 18.10%. The firm had revenue of $74.20 million for the quarter, compared to analyst estimates of $73.99 million. During the same period in the previous year, the firm posted ($0.02) earnings per share. The company’s revenue for the quarter was up 2.9% on a year-over-year basis.
Shares of NASDAQ INAP traded up $0.32 during midday trading on Friday, hitting $13.14. 4,834 shares of the company’s stock were exchanged, compared to its average volume of 359,631. The company has a current ratio of 0.65, a quick ratio of 0.65 and a debt-to-equity ratio of 72.60. Internap has a 12 month low of $8.88 and a 12 month high of $22.36. The company has a market capitalization of $266.04 million, a P/E ratio of -8.36 and a beta of 2.01.
In related news, Director Peter J. Rogers, Jr. purchased 2,500 shares of the firm’s stock in a transaction dated Tuesday, May 8th. The stock was bought at an average price of $10.63 per share, with a total value of $26,575.00. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Peter D. Aquino purchased 4,470 shares of the firm’s stock in a transaction dated Wednesday, June 13th. The stock was bought at an average cost of $11.16 per share, with a total value of $49,885.20. The disclosure for this purchase can be found here. In the last ninety days, insiders acquired 12,070 shares of company stock valued at $128,738. Insiders own 5.90% of the company’s stock.
Hedge funds have recently modified their holdings of the company. Monarch Partners Asset Management LLC increased its holdings in shares of Internap by 55.8% in the first quarter. Monarch Partners Asset Management LLC now owns 40,815 shares of the information technology services provider’s stock worth $449,000 after buying an additional 14,620 shares during the period. Driehaus Capital Management LLC bought a new stake in Internap during the 4th quarter valued at approximately $5,052,000. Cortina Asset Management LLC boosted its position in Internap by 7.6% during the 1st quarter. Cortina Asset Management LLC now owns 357,887 shares of the information technology services provider’s stock valued at $3,937,000 after acquiring an additional 25,366 shares in the last quarter. Gamco Investors INC. ET AL boosted its position in Internap by 12.7% during the 1st quarter. Gamco Investors INC. ET AL now owns 2,213,220 shares of the information technology services provider’s stock valued at $24,345,000 after acquiring an additional 249,601 shares in the last quarter. Finally, Cannell Capital LLC boosted its position in Internap by 91.1% during the 1st quarter. Cannell Capital LLC now owns 875,208 shares of the information technology services provider’s stock valued at $9,627,000 after acquiring an additional 417,153 shares in the last quarter. 80.82% of the stock is owned by institutional investors.
Internap Corporation provides Internet infrastructure services. It operates through two business segments, INAP COLO and INAP CLOUD. The INAP COLO segment offers colocation services, including physical space within data centers and related services, such as power, interconnection, environmental controls, monitoring, and security; and Internet protocol (IP) connectivity services comprising its patented Performance IP and content delivery network services, IP routing hardware and software platforms, and Managed Internet Route Optimizer controllers.
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